How to Write a Winning Business Plan
Many business owners wonder how to write a winning business plan? There are no “secrets” or “magic” solutions. You just need a simple step-by-step method. The first step in how to write a winning business plan is the first section of your Business Plan Outline: The Purpose. Here are a series of questions you should answer in this first section of your written document.
1) State the purpose of your business as simply as you possibly can.
Be straightforward and to the point.
2) What is the Service or Product?
Explain in moderate detail what the product or service you will offer.
If you will be offering a service, how to write a winning business plan is to posture it like a product. This will help you immensely later on when developing your marketing plan because – products are easier to sell than services.
3) How does your product or service fill a need or solve a real problem?
There are two ways to approach this that demonstrates how to write a winning business plan:
1) You have an idea for a product or service. You need to go out and confirm that there is in fact a need or desire in the marketplace for that product or service. This is a very common mistake made by many small business owners. They come with a “great” idea and base their entire business on that idea. Problem is: people don’t care about your idea. They only care what they think your idea will do for them.
2) You have already identified a need or desire in the marketplace. Go and find a product or service to fill that need or desire.
We highly recommend using the second approach. This will make more sense later in the Market Analysis section of the Business Plan Outline.
4) Why will customers pay for your service or product?
This ties in well with the last question. However, how to write a winning business plan is to do your homework. If you’ve done it, you will have already identified a need or desire in the marketplace before you develop your product or service. Simply answer this question with that need or desire.
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How to Write a Winning Business Plan
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